Norfolk Southern Cash Flow Statement
NYSE: NSCIndustrialsRailroadsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Norfolk Southern free cash flow
In fiscal 2025, Norfolk Southern generated $4.36 billion of operating cash flow and spent $2.20 billion on capital expenditures. That left free cash flow of $2.16 billion, a free-cash-flow margin of 17.7% of revenue. Free cash flow was up 29.1% from the prior year's $1.67 billion.
Norfolk Southern returned $1.75 billion to shareholders: $1.22 billion in dividends and $534.0 million in share repurchases, equal to 81% of free cash flow. Free cash flow covered dividend payments 1.8 times.
Summary generated from market data by MetaCap's automated system. Methodology
Norfolk Southern cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 2.87B | 2.62B | 1.83B | 3.27B | 3.00B | 2.01B | 2.72B | 2.67B | 5.40B | 1.67B |
| Net Income growth (YoY) | +9.57% | +43.51% | -44.13% | +8.82% | +49.28% | -26.05% | +2.10% | -50.67% | +223.98% | +7.20% |
| Depreciation & Amortization | 1.39B | 1.35B | 1.30B | 1.22B | 1.18B | 1.15B | 1.14B | 1.10B | 1.06B | 1.03B |
| Stock-Based Compensation | 63.00M | 40.00M | 40.00M | 53.00M | 54.00M | 28.00M | 53.00M | 47.00M | 45.00M | 42.00M |
| Change in Working Capital | 318.00M | 633.00M | 433.00M | -148.00M | 150.00M | 105.00M | -98.00M | 153.00M | 94.00M | 181.00M |
| Operating Cash Flow | 4.36B | 4.05B | 3.18B | 4.22B | 4.25B | 3.64B | 3.89B | 3.73B | 3.25B | 3.03B |
| Capital Expenditures | -2.20B | -2.38B | -2.33B | -1.95B | -1.47B | -1.49B | -2.02B | -1.95B | -1.72B | -1.89B |
| Investing Cash Flow | -2.56B | -2.78B | -2.18B | -1.60B | -1.22B | -1.18B | -1.76B | -1.66B | -1.48B | -1.83B |
| Dividends Paid | -1.22B | -1.22B | -1.23B | -1.17B | -1.03B | -960.00M | -949.00M | -844.00M | -703.00M | -695.00M |
| Share Repurchases | -534.00M | 0 | -622.00M | -3.11B | -3.39B | -1.44B | -2.10B | -2.78B | -1.01B | -803.00M |
| Debt Issued | 396.00M | 1.05B | 3.29B | 1.83B | 1.68B | 784.00M | 2.19B | 2.02B | 290.00M | 694.00M |
| Financing Cash Flow | -1.91B | -1.20B | 115.00M | -3.00B | -3.31B | -1.93B | -1.99B | -2.31B | -2.04B | -1.35B |
| Net Change in Cash | -111.00M | 73.00M | 1.11B | -383.00M | -276.00M | 535.00M | 134.00M | -244.00M | -266.00M | -145.00M |
| Free Cash Flow | 2.16B | 1.67B | 852.00M | 2.27B | 2.79B | 2.14B | 1.87B | 1.77B | 1.53B | 1.15B |
This table shows 10 annual periods of Norfolk Southern's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow NSC's reporting calendar. What is a cash flow statement?